business_world
Published in

business_world

Top 4 Signs Businesses Are Making Progress­ with Digital Transformation

Since digital transformation is more a journey than a destination it’s success can be difficult to measure for leaders who are accustomed to evaluating performance metrics. It’s crucial, however, to keep track of how far digital transformation has progressed.

COVID-19 is boosting demand for digital transformation quicker than before as the pandemic exposes vast inefficiencies and disrupts outdated ecosystems and business models. Therefore, companies should ensure that they are on the right track with digital transformation now more than ever to maintain business continuity and remain competitive.

This is true across industries, as well as enterprise sizes and geographic locations. Will every company eventually become a tech firm? Perhaps not, but they will get closer to becoming one.

Technology is transforming activities such as go-to-market strategies, customer engagements, and workforce enablement, to name a few. Furthermore, in order to stay competitive, businesses need to work on a new mind-set about technology adoption and investment.

There are some crucial indicators that can help companies assess if they are on the correct path in terms of transformation. Some will be specific to the organization’s digitization goals, while others are more generic.

Also Read: Why Experience Monitoring is Key to Successful Digital Transformation

4 digital transformation milestones to keep an eye on

CIOs should pay attention to these four indicators that indicate whether their company is progressing along its digital transformation path.

Processes that can be repeated for digital initiatives

Depending on the organization’s baseline maturity level, this will seem different. In general, IT departments that are focused on digital transformation create a long-term strategy for digital projects and programs.

Defining objectives, recognizing gaps between the current state and those objectives, KPIs to measure success, cross-functional pilot teams and processes, agile training, business change management, and scaling of what works are just a few examples at a high level.

Intensification of lean business processes

Assessing the new processes that evolved as a result of digital transformation is an intriguing aspect of gauging success. The process should be lean, efficient, and fulfill its goals with the least amount of resources and time possible. This category of positive indicators also includes better usage of human resources.

Strategy and execution of digital transformation should be shared

It is common knowledge that digital transformation is not and cannot be entirely driven by IT or the business. If IT teams don’t know where the business is heading or aren’t actively involved in business strategy planning, it’s difficult for them to respond swiftly to a company’s needs.

To allow the business and technical teams to collaborate, a significant organizational shift is required. The responsibility for business strategy and technical implementation should be shared.

Also Read: Businesses Can Provide Employees with an Anchor in The Storm

Reduced time-to-market and increased change frequency

An increase in speed is a good sign, whether the goal is to introduce new items and features to customers or staff. The frequency with which organizations introduce new changes to their business/client/customer/end-user is a phenomenal metric to track while measuring the digital transformation journey.

This may appear simple and apparent, but it is a great sign of business and technology teams working together. This can be accomplished by quickly implementing, validating, and iterating ideas in the field, which is at the heart of effective transformation.

Check Out The New Enterprisetalk Podcast. For more such updates follow us on Google News Enterprisetalk News.

--

--

--

Latest Business news | articles | Interviews | podcast

Recommended from Medium

How shipping can reduce cart abandonment — SwiftERM

The Blurring Line between new Mobility Services and Public Transit

Toyota-backed investment fund Woven Capital buys stake in Nuro

Starting A Business (Part 8)

Is 2018 the year of higher self-awareness, authenticity, and social purpose?

Cannabis Business Seminar — can I still get in the cannabis industry?

Reciprocal Exchanges: The Original P2P Insurance Model That Benefits Everyone

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
media

media

More from Medium

All you have to do is ask: The importance of evaluation and feedback

Building a new SIS: Lessons Learned

Social Seeder will coach companies in Employer Branding at the Employee Engagement Awards

5 Ways Learning a Foreign Language Makes You a Better Entrepreneur

Entrepreneur speaking to client in a foreign language